Based on a large-scale interview-based study of 98 randomly selected cases of lobbying in Washington from 1999 to 2003 (reported in Baumgartner et al. 2009), we found virtually no impact of money on outcomes. We believe that this counterintuitive finding derives from the huge business and corporate bias that permeates Washington and is already built into the policies of the status quo. Lobbying, it is important to remember, is generally about changing the status quo. The accumulated power of wealth, corporate organizational strength, and other factors keeping some actors out of Washington and giving others multiple and louder voices in the process is already reflected in the fabric of the status quo: they are “baked into the cake.” For reforms to have a significant impact, they should focus on who is at the table, not only on what they do once they are there. We found the biggest impact of money when we looked at the huge disjuncture between the concerns of the public and the activities of Washington lobbyists. Our findings represent a cautionary tale for those hoping that regulations on gifts or spending may generate a reversal in the distribution of power in Washington. Such regulations are genuinely needed and may have important effects, but we need to understand their expected limits as well.